I am going to be loading GP 18.3 this weekend in a test environment. I understand both of these options are now available but what vendors get tagged as 1099-NEC and what vendors stay tagged as Miscellaneous? I see them both listed on the IRS website but still do not understand the differentiating factors.
Thanks, I will turn this over to a tax accountant as this is all Greek to me.
Hi,
We are not able to define what vendors would use the 1099-MISC and the 1099-NEC form.
My recommendation to look at the instructions for Fomrs 1099-MISC and 1099-NEC https://www.irs.gov/pub/irs-prior/i1099msc--2020.pdf and/or contact your business accountant for these details.
I hope this helps!
Margi Jandro
Microsoft Support
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